Gosling's Grouse: Would a radical approach to fund charging work?

If the FCA gets its way and there is some form of price war to create more competition, what shape would it take? What is a competitive price?

One of the problems with this kind of discussion is it implies investment management, financial advice or wealth management are commodities, where the normal laws of economics apply. But they are not because, as we all know, they are 'emotional' products rather than pure utilities. So it seems to me the role that price plays cannot really be a significant part in the sector beyond the current wholesale negotiations, which the likes of large wealth managers can make on their clients' behalf. But even then, the cost of regulation and compliance means any scale price cuts need to be r...